Buy to Let Mortgages
We won't ramble on about 'Top 10 tips for landlords' and so on like many websites. If you require this sort of detail we would advise you go to the Association of Residential Letting Agents website, www.Arla.co.uk, where there is a lot of information for both first time and experienced landlords, but we will keep you up to date with the ever changing criteria surrounding Buy to Let mortgages.
How we care for our Buy to Let Clients
- Make understanding your objectives Number 1
- Understand the need for urgency and priority cases
- Contactable when you need us
- Experience in Lender processing helps with difficult cases
- We actively challenge down valuations by Lenders
- Access to specialist Buy to Let Packagers
For those considering a Buy to Let mortgage and those who haven't had to remortgage until now, in the current economic climate it is now necessary to have a 25% deposit to be able to invest in a Buy to Let mortgage. The property must also generate 125% of its monthly mortgage payments in rent. So the rent would need to be achieving £500 per month, to cover a mortgage repayment of £400 on an interest only mortgage. There are a few Lenders that will accept 115%, but you will find that the rates reflect the increased risk in the Lenders eyes. As is with any mortgage the larger the deposit ie the smaller the loan to value, the better the interest rate you will be offered.
It is of course worth remembering that with a Buy to Let mortgage you source your mortgage from the whole of the market. We of course are no fee, whole of market mortgage advisers- but we also have access to specialist Buy to Let mortgage packagers dedicated to the industry, helping to ensure your mortgage is underwritten by the right people.
We have outlined a selection of some competitive rates from the whole market on our Buy to Let Mortgage Rates tables.